Xoma price target lowered to $66 from $76 at Lucid Capital

Lucid Capital lowered the firm’s price target on Xoma (XOMA) to $66 from $76 and keeps a Buy rating on the shares. The company’s partner Rezolute (RZLT) announced the Phase 3 sunRIZE clinical trial evaluating ersodetug for the treatment of congenital hyperinsulinism did not achieve its primary and a key secondary endpoint, the analyst tells investors in a research note. Lucid reduced the probability of success for ersodetug to 30% from 80%.